美国3月CPI爆炸，但市场关注重点在连续性；油价飙升后，美联储行动将分两个阶段，需要警惕......

Minutes from the Federal Reserve’s March 17-18 meeting reveal officials are considering both downside risks to employment and upside risks to inflation following the Iran war. Most participants noted that the conflict could weaken the labor market, supporting rate cuts, while others emphasized inflationary pressures that might require hikes. The Fed held its policy rate at 3.5%-3.75%, with projections still showing one rate cut in 2026, though markets remain skeptical about any easing this year. Officials highlighted the need for “two-sided” guidance on future interest-rate decisions.

VALERO PORT ARTHUR TEXAS DIESEL HYDROTREATER CONTROL ROOM DESTROYED IN MARCH BLAST - SOURCES